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According to documents obtained by judicial watch.
Twelve new -- -- at the Consumer Financial Protection Bureau.
Make Obama 225000.
Dollars per yet each and wait -- -- it gets was.
And in -- at the Consumer Financial Protection Bureau.
Makes more than a 42000 dollars as a communication -- -- -- we outraged.
Talk about is the president that judicial watch is now live from DC I mean does that 42000 dollars for an in tonight's thought that that is as far as you what's.
I may think of new line of work.
You know we -- asked for all the documents.
From the various regulatory agencies related to the financial sector.
About the air about there pay practices and and you've got all those folks making 225 plus.
-- this is a new bureau member Elizabeth Warren -- you know friend of the of the little guy I mean they initially started hiring these folks right at the gate right out of the gate.
At these high salaries over the SEC.
Securities exchange commission which is the least confident agency.
Control and financial sector right now.
There -- 85 plus.
People making 225.
So I wanted his hold on 12 we got a taste of the story I just gonna break away for more news is bad news actually from and half of global.
We have a report from the Wall Street Journal.
The says that the deal with interactive brokers is off now that's according to the Wall Street Joseph remember and -- global.
Because it bet heavily on European debt that they would pay off.
What until just a couple of hours ago was that look at the remnants of MF global will be borne out by interactive brokers -- now the Wall Street Journal says the back deal.
That's just been it is that basically the collapse.
And that global -- -- looking at right now not helping the overall market.
Back to Tom Fenton the president judicial watch Tom you've told -- all about these new -- is this bureau.
Each for twelve new highs -- -- straighten this out now because this is the the Consumer Financial Protection.
Bureau I think is the correct name.
That was the creation of Elizabeth Warren who is now running for the senate in Massachusetts.
And that this is that that these agencies supposed to protect the little guy.
And -- as money that that juxtaposition I think it used to this.
Well you know the question is is it worth it we can't get that they -- why these folks were hired in their names and and other things that would shed some light on the details.
It's twice what the Office of Personnel Management which is the big federal bureaucracy that issues guidelines in this area recommends.
For starting salaries while all they -- people tall on the are they paying top salaries because they got to get the best people on the block is that has the story.
They're probably pay competitive salaries for government which is paying too much in -- in the Washington DC area the average federal employee according to reports last week.
Makes -- 126000.
Dollars a year.
Now so in order to get it up there you gotta get your people up at 225000.
Get that average -- -- where is it was the money coming from.
The payment is very high summons from the treasury that come money's coming from fees you pay -- banks.
Consumer Financial Protection Bureau is in charge of virtually every.
Or has regulatory authority over every financial.
Instrument out there mortgages car loans.
Credit cards you know we have this Bank of America.
Five dollar -- -- That's popping up and in part because of the new regulations.
Being issued new powers being pushed.
By the agencies he -- some folks are not top of the securities exchange commission LC in the news about burning mama made off the last few days since then has been now pushing a book right.
You know they they let that one slide by fifty million dollar.
So let me summarize this bit.
All financial institutions pay higher fees those higher fees the money from those high fees essentially goes to fund.
This new watchdog agency.
And that -- them -- 125000 dollars in the case of these twelve new highs so that's a circulation of money from the financial institutions to the regulators.
To the people making some serious money via.
But I want to have a -- before we close have you got any more information.
On the 42000.
Dollars being paid to one in time because that's the the shocking number.
Anymore -- It's -- one intern and and the person's there to.
Complete her education or something like that it's all very vague and we have to kind of go through with a fine toothed comb these documents because they black out.
Key information the Federal Reserve won't even tell us what they're paying people.
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